Ayo technologies list on JSE

File: Technology firm Ayo Technologies has listed on the Johannesburg Stock Exchange.

JOHANNESBURG – Communications and Technology firm Ayo Technologies has listed on the Johannesburg Stock Exchange(JSE).

The company’s shares were oversubscribed in December after a private placement, with offers worth R5,3-billion.

The company is a division of African Equity Empowerment Investments and has a R14-billion market capitalisation.

Ayo Technology Solutions is a majority black-owned ICT company, which is at least 30 percent women-owned.

READ: Foreigners own 38% of JSE-listed companies' shares

AEEI will own some 49 percent.

The SA Clothing and Textile Workers' Union, the Police and Prison Civil Rights Union (Popcru) and the Federation of Unions of SA also hold shares.

Ayo has a 25 percent market share of technology contracts in the public hospital sector and manages the National Health Laboratory Service.

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